Highest Interest Rate on Bank Fixed Deposits (FD) – November 2016

Fixed Deposit Highlights

  • Maximum Investment Amount:   No such limit
  • Interest Rates Variable: from 7 to 9% based on tenure
  • Interest Rates Compounding: Quarterly
  • Interest earned is taxable: Yes
  • Liquidity: Yes
  • Tenure:   7 days to 10 years
  • Income Tax Rebate u/s 80C: Yes upto Rs 1,50,000/- p.a., but on FD with a lock in period of 5 or more years
  • Maturity Value: Taxable
  • Premature Withdrawals: Entire amount, anytime but after charging a certain penalty
  • Loans/Overdraft: overdraft facility upto 90% of the amount in the FD
  • Tax Deduction at Source: Yes at the rate of 10% on interest earned if if it exceeds Rs. 10,000 in one financial year
  • Risk: Risky as compared to PPF
  • Periodic Income: Yes

Higest Interest Rate on Bank Fixed Deposit

The highest interest rate is offered by the Bandhan Bank (for 12 months) at 8.25% per annum and Ratnakar Bank (for 12 months) at 8% per annum followed by The Nainital Bank (for 12 months) at 7.9%.

Bank TenureFD Interest Rate (p.a.)Find Interest RatesCalculate
Bandhan Bank Limited12 Months8.25%
Rbl Bank Limited12 Months8.00%
The Nainital Bank Limited12 Months7.90%
Idfc Bank Limited12 Months7.75%
City Union Bank Limited12 Months7.60%
State Bank Of Patiala12 Months7.57%
State Bank Of Mysore12 Months7.55%
Syndicate Bank12 Months7.50%
Vijaya Bank12 Months7.50%
Catholic Syrian Bank Limited12 Months7.50%
State Bank Of India12 Months7.50%
Corporation Bank12 Months7.50%
Laxmi Vilas Bank12 Months7.50%
Karnataka Bank Limited12 Months7.40%
Dcb Bank Limited12 Months7.40%
Disclaimer: The Fixed Deposit Interest Rates keep on changing. You are advised to check the interest rates with banks before making your FD.      Source: Bank Websites

Upcoming Bank Holidays

2017 February 24 is a bank holiday in Chandigarh due to Mahashivratri.
2017 February 27 is a bank holiday in Sikkim due to Losar.
2017 March 03 is a bank holiday in Mizoram due to Chapchar Kut.
2017 March 12 is a bank holiday in Jammu And Kashmir due to Holi (Jammu Province Only).

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